management, that it is also not the worst thing in the world that could happen. it is a good thing, but i think relative to the other space, they could repair for that and do that. we are not calling for glass-steagall, but there are mixed signals coming out of the president-elect. mark: we have seen a big outperformance in morgan stanley's shares, relative to the s&p 500, since february. you say you still like the stock. how is that? david: we upgraded the stock several times, we upgraded recently when it hit its low around $25. it, it is ank about proponent of both leverage to improve economic activity, goldman and morgan are underwriting equity capital --kets, so that is a big when you think about morgan stanley, their guidance for next 9% to 11% r.o.e.